Which of the following statements is true about The IIA Global Internal Audit Competency Framework?

Internal auditors must exercise due professional care by considering which of the following?
1. Cost of assurance in relation to potential benefits.
2. Adequacy and effectiveness of governance, risk management, and control processes.
3. Management's competency level in the area being evaluated.
4. Probability of significant errors, fraud, or noncompliance.

When developing the organization's first risk universe, which of the following would the chief audit executive be least likely to consider?

Which of the following enhances the independence of the internal audit activity?

In which of the following functions would fraud be most likely to occur?